Previous Highz broken out, Heading for new Highz

As expected, Bulls successfully breakout previous highz and recorded new Highz.
This upmove to continue further towards 12300-12350 zone initially.
Key support exists at 12160 spot.
Previous High acts as strong support now.
Avoid short selling at highs. Bulls in Action now.
Many stocks bouncing from support levels.
Banknifty likely to push nifty upward.
Buy on Dips market.
Resistance 12300-12350.
Supports at 12160-12140.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com

Comments

LIVE ON DOORDARSHAN 8 YADAGIRI "BUSINESS MUCHATLU"

Market likely to take a PAUSE.

After our update, Nifty rallied from 19225 to 20095, it appears that, nifty likely to take a pause before another rally. Technically , Negative Divergence formed in Hourly charts. Five inner waves appears to be completed as per Elliottwave Perspective. Several other parameters indicating that markets likely to cooloff from over bought position. It's time to be cautious on taking fresh long positions. As far as possible, keep booking profits, at least , partial profit booking and keep strict stoploss to remaining long positions. Key supports to watch 20000-19870-19700. Resistance 20100-20200. Regards, Suryadev Bandari Research Analyst

Banknifty trend Up.

Banknifty almost completed Sideways correction today around 44550 and turned up. Now it appears to be resume upward Journey tpwards 45700+. Regards, Suryadev Bandari Research Analyst.

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